looking to rise imho., page-2

Grasmere Base Metal Project

Previous Exploration
High-grade copper was extracted from the historic Grasmere copper mine during the late 1800’s and early 1900’s. Historic production is reported to have been 600 tonnes at grades of 10% to 30% copper.

Limited diamond core drilling to a depth of approximately 200 metres by Rio Tinto into the deposit has outlined a JORC inferred resource.

No further drilling has been undertaken since the 1990 drill programme. Initial metallurgical test work has suggested good recovery of both copper and zinc with
smelter credits of silver, gold and cobalt.

Exploration Potential
There is considerable potential to extend the resource at shallow depths to both the north and south of the deposit beneath outcropping copper-bearing gossans.
There is considerable potential to extend the resource at depth in an interpreted down-plunge, high-grade shoot position. An undrilled electromagnetic anomaly immediately north of the resource possibly represents a second parallel high- grade shoot. Grasmere Base Metal Project Mapping and aeromagnetic data show that the magnetic horizon that hosts the Grasmere Copper Deposit extends for over 25 kilometres both to the north and south of the deposit. Very little exploration has previously targeted this magnetic horizon.

Above is just a small extract of the company announcements which are worth a read in full.

Drilling later this year - presently evaluating targets